STATE PENSION

[Stanley]

As long as it doesn't affect his mates in the top percentile of course he would. Richard, you are right about the puzzle of property prices and how they are treated for tax purposes. When I was buying Hey Farm I couldn't understand why I was given tax relief on repayments and even more puzzling, why the monthly payment on the loan didn't go up as the property value increased. At the same time wages were going up to match inflation so it was win-win. When I made the last payment my wage and the value of the property were both more than ten times what they had been when I started paying.
I remember a historical theory that the reason why industrial wealth allowed people in this country to translate to the aristocracy when in France, trade was barred to the aristos, was because if measures had been taken to correct this it would have adversely affected those making the laws. I suspect that this is what was working for me on 15p an hour in 1959......
As I said the other day, consider the biscuit tin under the bed or gold bricks.....

[plaques]

I remember a historical theory that the reason why industrial wealth allowed people in this country to translate to the aristocracy when in France, trade was barred to the aristos,

Up to the time of the French Revolution 1789 The Aristocrats, Church and the big land owners (the First Order) didn't pay any tax at all. All the tax was paid by the peasants etc: (Third Order). Although the First Order didn't engage in any trade, ie: work, they controlled it all. Where are we hearing all this again?

[Tizer]

A further, delayed response to Bruff's post about his London house bringing a six-figure sum. I think that's how it should be - it's compensation for having had to live in London for so many years!

[Bruff]

Let’s just clear something up – we’ve not got six figures sitting in a bank account (earning no money these days). We’ve simply got a much bigger house than we would ever have had with a bit smaller mortgage.

Richard Broughton

[Stanley]

Tiz is dead right, well-earned!
Rational response to the possibility of using accumulated capital from saving to take advantage of an artificially skewed market and improve your position. Far better return than any formal pension fund. Reinforces my opinion about biscuit tins and/or gold bricks. It's come to something when a biscuit tin is a better proposition than a bank....... Mind you, in my experience property has always been the best bet.

[PanBiker]

I'm taking Sally for the train tomorrow early doors (5am). She is going to London with a couple of friends who are in the same situation as her. They are going to the demonstration organised by WASPI (Women Against State Pension Inequality). She and her friends have been told they will not get their state pensions until they are 66 despite being promised it at 60. There is an organised rally and demonstration where the Pensions Minister will be in attendance.

Sally made all her contributions from starting work at 15 and paid voluntary full stamp even when working part time, she has more than enough credits. They will be asking for the £68,000 each that they will be swindled out of having to wait until they are 66. Plenty of cameras around Westminster at the moment so it may make the news bulletins but I suppose that will depend on what else occurs tomorrow in the current meltdown.

[Marilyn]

Go Sally!
(I am not eligible for pension until aged sixty seven and a half years )

[PanBiker]

Sorry to hear that Maz. Sally is a seasoned campaigner and I have told her not to worry if she has to get arrested! She nearly got shot for trespassing on U.S property back in the day at Greenham Common. Chain yourself to a minister?

[Stanley]

Well done Sally and the best of luck with it. As for chaining herself to a minister.... No way, she has more sense!

[PanBiker]

I don't think the minister has the bottle to face his critics, the Hutchinson and Earnshaw girls from Carleton are a force to be reckoned with.

A bit later, the Barlick and Skipton girls are delivered to the station, the lovely Christine will be joining them at Crossflats.

[PanBiker]

The girls banner attracted the attention of a freelance cameraman. Sally took the opportunity of a sound bite.

WASPI - Women Against State Pension Inequality Demonstration - London - 29th June 2016

[BBvideo=560,315]https://youtu.be/kX-lJh-JAo8[/BBvideo]

[Stanley]

Wonderful! Well done Ladies!

[Stanley]

See THIS for some unwelcome news for us pensioners. In making the comparison between the pensions increases and the working wage they fail to point out that it isn't that pensions are too generous it's that worker's wages are too low and falling as the inflation rate will increase to more than wage rises. A cunning wheeze, those rapacious pensioners!

[chinatyke]

Here is another slant on pension increases. How would you like all pensions to be fixed and no increases given? Then you would be on equal terms with me. Why should I be denied increases because I choose to live where I cannot take advantage of the many benefits you have, and yet I still pay UK income tax? And if I return to UK I'd be immediately entitled to the increased rate and other benefits and yet contribute no more than I do at the moment.

[Stanley]

Like the rest of us China you paid your money and now have to lie back and enjoy it..... In some respects you may be better off than us...

[Stanley]

I see that the Cold Weather Payment for pensioners is also 'under review'..... If the country is doing as well as our leaders would have us believe, why should this be on the table?

[PanBiker]

I have just delivered the Carleton girls, Sally, Helen and Christine, the Hutchinson and Earnshaw gang to Skipton railway station for their trip down to London on International Women's Day. They and a lot more ladies will be barracking government again to pay them their pension dues. They are meeting our non supporting MP at Westminster at dinnertime, more a photo opportunity for him for future claims in his rag probably. Anyway they are suitably tooled up for making a lot of noise. I will collect them again sometime after midnight.

[Stanley]

Stephenson is a cipher. He is simply a relay station for Tory spin. When did anyone ever hear him address the real problems..... Good luck to the Ladies but I fear they are flogging a dead horse. May has her pension sorted......

[PanBiker]

You cant stop trying though Stanley. They met and talked with Andy Burnham who is a supporter as is Jeremy Corbyn, they both spoke at the rally. It was a well attended but media wise somewhat overshadowed by the budget. Lots of video's on Youtube.

[Stanley]

It doesn't help that the pensions are part of the infamous 'Triple Lock' which has resulted in pensioners being the only ordinary folk in the UK whose income is keeping up with the economy when everyone else is falling further back. This is seen as a mistake now. Pensions have low priority in the great scheme of things. The answer to the problem is of course to raise domestic incomes of the others to match the pensioners but I am afraid that's not the way their minds work. Eventually the pensioners will have to be dragged down to the lower level. It will happen!

[Stanley]

Tripps posted this quotation this morning
"Welcome to Isa season 2017, where NatWest genuinely has a countdown clock warning there’s only 21 days, six hours and 26 minutes to get a cash Isa with a 0.01% interest rate."

This miserable rate got me to thinking once again how lucky I was when I converted my small pension pot to an annuity with Pearl. I am still on 3% annual increase, it's embedded in the contract. I wonder what rates can be achieved today for the same deal? Judging from the interest rate on ISAs it must be miserable. I feel for those who have saved for years and find they have been shafted.....

[Stanley]

THIS is worth reading if you have any interest at all in the State Pension. There is no good news in it for anyone.

[Whyperion]

The state pension triple lock is illusory for those without private incomes , indeed some incomes with state pension trip limits over other benefits, including council tax reductions to zero or 90%, and the rate of pension credit has only been increased at 1%/Zero so the basic pension increase is part offset by reduction in pension credit. So the better off pensioners tend to have both an occupational pension at a reasonable rate and state pension ( other benefit values excepted ). Many pensioners subsidise the likes of their (great) grandchildren while their parents struggle with mortgage payments,etc. Don't forget if you are of state pension age and live in rented or service charge payable accommodation that you may qualify for a housing benefit element of pension credit if you dont qualify by income. Those whom own their own house I think are expected to fix their own roof , etc , without benefits (some areas do have grants or loans for serious repairs of housing- far less in scope and value than it used to be)

[Stanley]

Time this was revived I think..... See THIS Guardian account of reports that fraud is rife as steelworkers find they have a pension pot. Frank Fields is quite right and it's high time these select committees were given teeth so they can ensure that their findings are taken seriously and not simply brushed off. All fraud is horrible but attacking hard won savings and funds like this is indefensible.

[Stanley]

I suppose it was entirely predictable but I noted an advert in the BET this morning for a 'no win no fee' service to help people who have been persuaded to shift their pension pot by promises of greater returns but have now found that they have been cheated. It seems that one batch of cheaters breeds another batch. What next, a no win no fee service for clawing back excessive 'success' charges? It used to be ambulance chasers, now it's cunning wheeze time.